PM: New arrangement with IMF good idea

Serbian PM Mirko Cvetković said on Friday that Serbia's current stand-by credit arrangement with the International Monetary Fund (IMF) will end in April.

Izvor: Tanjug

Saturday, 19.02.2011.

08:16

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Serbian PM Mirko Cvetkovic said on Friday that Serbia's current stand-by credit arrangement with the International Monetary Fund (IMF) will end in April. He added that a new arrangement should be made after that “out of precaution.” PM: New arrangement with IMF good idea “I believe that the stand-by arrangement should not be extended because so far we have not withdrawn all funds available to us. Therefore, there is no need to extend the current or close a new stand-by arrangement. Still, I think that it would be good for Serbia to close another arrangement with the IMF after this one expires, purely out of precaution,” the prime minister told Econom:east magazine. Cvetkovic pointed out that this way the country would still have an ongoing arrangement with the IMF, which would enable the Serbian government to win IMF's support for the country's economic policy. “The IMF has a good international reputation, and by closing a new arrangement with it out of precaution, Serbia and its economic policy would earn additional credibility, which is also a very important factor for attracting necessary foreign investments,” he concluded. Mirko Cvetkovic meets with IMF representatives (FoNet, file)

PM: New arrangement with IMF good idea

“I believe that the stand-by arrangement should not be extended because so far we have not withdrawn all funds available to us. Therefore, there is no need to extend the current or close a new stand-by arrangement. Still, I think that it would be good for Serbia to close another arrangement with the IMF after this one expires, purely out of precaution,” the prime minister told Econom:east magazine.

Cvetković pointed out that this way the country would still have an ongoing arrangement with the IMF, which would enable the Serbian government to win IMF's support for the country's economic policy.

“The IMF has a good international reputation, and by closing a new arrangement with it out of precaution, Serbia and its economic policy would earn additional credibility, which is also a very important factor for attracting necessary foreign investments,” he concluded.

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